Gold World Signs Joint Venture Agreement

    TORONTO, Nov. 27 /CNW/ - Gold World Resources Inc. (GDW-TSX Venture) (the
"Company") is pleased to announce that it has signed a Joint Venture Contract
(the "CJV Contract") with the Shijiazhuang Comprehensive Geological Brigade
(the "Brigade") of the Hebei Provincial Bureau of Geology & Mineral Resources
Developments to establish a Sino-Foreign Contractual Joint Venture Company
under the name Hebei Mingyu Mining Corporation (the "JV Company") for the
exploration and development of a gold/silver property in Hebei Province, China
known as the Yangjiagou (Ming) Project. The CJV Contract requires formal
approval from the TSX Venture Exchange.
    During the signing ceremony on November 9, 2007 at the offices of the
Brigade, Mr. Hermann Derbuch announced the proposed directors and officers of
the JV Company as follows:

    Nominees of Gold World Resources Inc.:

    H. Derbuch -              Chairman and Director
    G. Gauthier -             Director
    Zhu Ben Fu -              Director

    Nominees of the Brigade:

    Chang Bao Ju -            Vice Chairman and Director
    Wang Wen Xue -            Director

    The Cooperative Company's total investment and registered capital in Phase
I is US$2,500,000. The Company's contribution is US$1,750,000 or a 70% share
and the Brigade's contribution is US$750,000 or 30% of the registered capital.
The payment schedule is as follows:

    Number                   Contribution Date                   Amount (USD)
    I        Within 60 days after signing of the CJV Contract        $50,000
             pay to the bank account of the JV Company.
    II       Within 3 months (90 days) after business license       $500,000
             is issued pay to the bank account of the JV
    III      Within 12 months (365 days) after business             $500,000
             license is issued pay to the bank account
             of the JV Company.
    IV       Within 18 months (548 days) after business             $700,000
             license is issued pay to the bank account of
             the JV Company.
    Total    18 months                                            $1,750,000

    Our partners, with the support of Mr. Zhu Ben Fu, lawyer with B&J
Partners Law Firm, Beijing, are working on the registration and setup of the
JV Company which is expected to take about 4 months. The Business License is
expected to be available one month thereafter.
    The CJV Contract puts the Company in charge of a gold-silver property
which has significant upside potential with three mines producing gold and/or
silver surrounding it (see press release August 10, 2007 signing Letter of
Intent). The 17.46 km(2) exploration permit area hosts at the northern
perimeter predominantly gold mineralization and at the southern perimeter
predominantly silver, both at significant grades with increasing depth (see
SRK due diligence report September 10, 2007 available on Sedar or on the
Company's website Dr. Bielin Shi, Sr. Geologist
with SRK Beijing, China, is the Qualified Person who has read and approved
this press release.
    The Company has retained SRK Consulting to prepare a 43-101 Technical
Report on the Yangjigou (Ming) Project as a follow up on their due diligence
report of September 10, 2007 and expects to receive a working draft report
prior to year end.
    The Company does not currently comply with TSXV's Tier 2 listing
requirements and has been placed on 90 days notice to comply therewith failing
which its listing will be transferred to the NEX Exchange, a separate Board of
TSX Venture Exchange.
    Management continues to be committed to China as a result of the great
range of mining opportunities available, the exceptional infrastructure,
including paved roads and grid power in most of the exploration and mining
areas and the low cost profile of exploration in China combined with high
discovery potential.

    "Hermann Derbuch",
    Chairman & CEO Gold World Resources Inc.

    Certain of the statements made and information contained herein is
"forward-looking information" within the meaning of the Securities Act
(Alberta), including statements concerning Gold World's plans for the
Property, which involve known and unknown risks, uncertainties and other
factors which may cause the actual results, performance or achievements of
Gold World, to be materially different from any future results, performance or
achievements expressed or implied by such forward-looking information. Such
information contained herein represents management's best judgment as of the
date hereof based on information currently available.

    The TSX Venture Exchange has not reviewed and does not accept
    responsibility for the adequacy or accuracy of this release.

    %SEDAR: 00011137E

For further information:

For further information: Hermann Derbuch, P.Eng., Tel: (416) 594-9888,
Fax: (416) 594-1967, E-mail:

Organization Profile

Gold World Resources Inc.

More on this organization

Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

CNW Membership

Fill out a CNW membership form or contact us at 1 (877) 269-7890

Learn about CNW services

Request more information about CNW products and services or call us at 1 (877) 269-7890